Thanks NQ! This is coming more into my focus this week. In fact, Evil Speculator is running four live webinars on their "system" this week. Part 3 is today and 4 is Sunday. It seems quite similar in its approach of buying the top coins and readjusting the holdings on a weekly basis. But also has a ranking method based on momentum over a specific period of time. You first suggested ES to me and I find it a mind stretching place to be.
Also, I saw a presentation by Dave Landry who takes on crypto with his Landry Light method. A very simple crossing system of price and a 30-SMA line. His indicator stacks bars for everyday the close is above the 30 when the indicator lights disappear or turn red if closes start under the 30. It's a nice visual.
See the some of those top ranked coins from CB below.
End of week 1 - Stupid Simple Crypto Trading Plan.
First, a few things to share. I failed to make the weekly update and exchanges yesterday as planned (Mondays). Something came up yesterday that kept me away from my keyboard for most of the day, so this week's update and exchanges occurred today. An 8 day period rather than 7.
Also, I was charged $7.67 for each of the $200 amounts I transferred into Coinbase and used to purchase the initial five crypto coins. This means my starting balance was not $1000, but rather 1000 - (5x7.67) = $ 961.65.
Also, I learned it would have cost me another $3.50 to sell each of the five crypto coins if I was to sell for cash and use the cash to buy this week's coins HOWEVER, there were no fees if I simply exchanged one coin for another, so I did that. Doing an 'exchange all' of one coin for another coin this way prevents me from rebalancing all the cash proceeds, and buying the new coins for the week in equal dollar amounts. I simply exchanged the highest coin that fell off this week's list for the highest coin that appeared new on this week's list. I may change this up in future weeks to exchange the highest for the lowest. I have to think about this some more.
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